Moving forward together

As you may know, E*TRADE and Morgan Stanley joined forces in late 2020. We’re now entering a new phase of our journey together and are excited to share with you what’s next.

Here’s what you need to know

1

Morgan Stanley will be assuming the custody and clearing services provided by E*TRADE Securities.

2

We'll keep you informed every step of the way until your transfer is complete.

3

No action is required for the transfer to take effect, and your online experience will remain exactly the same.

Transition timeline

One week before transfer weekend

All outgoing account transfer requests will be rejected and will need to be resubmitted (using your new account number) after transfer weekend.

The sweep option for new accounts opened by existing clients starting Friday, the week before transfer weekend, will default to the Cash Balance Program until the transfer is complete.

You will no longer be able to change your sweep option until after the transfer has been completed.

On the Tuesday before transfer weekend

Processing of all incoming account transfer requests will be paused until after transfer weekend.

On the Friday of transfer weekend

Starting after the close of extended hours trading, all open orders except futures will be canceled (with most order types being automatically reentered before the next trading day), and online account access will be disabled through Monday afternoon. This could temporarily impact your access to any banking accounts you hold with us, as well as the availability of certain banking and cash management features. Learn more.

 

Below you’ll find official communications about the transfer of your account(s), along with transfer-related changes to our agreements and policies.

 

Notice of Changes

View a description of the transfer and what it may mean for your account(s):

  • For transfers taking place on or around March 10, 2023: Download PDF
  • For transfers taking place on or around June 16, 2023: Download PDF
  • For transfers taking place on or around September 1, 2023: Download PDF
  • For transfers taking place on or around November 20, 2023: Download PDF

Client Relationship Summary

As part of the transfer, the E*TRADE Securities LLC and E*TRADE Capital Management, LLC Client Relationship Summary will be replaced by the Morgan Stanley Smith Barney LLC Client Relationship Summary, available online.

Self-Directed Account Agreements

Effective on your transfer date, E*TRADE will assign the E*TRADE Customer Agreement to Morgan Stanley—and Morgan Stanley will amend it pursuant to its terms. The E*TRADE from Morgan Stanley Client Agreement for Self-Directed Accounts and the Important Account Information for Self-Directed Accounts (together, the "Self-Directed Account Agreements"), available below, describe the terms and conditions that will apply to your Morgan Stanley account(s) after the transfer.

E*TRADE Futures Account Agreements

E*TRADE Futures LLC (E*TRADE Futures) will remain the futures commission merchant responsible for carrying your futures account. The E*TRADE from Morgan Stanley Futures Agreement for Self-Directed Accounts, the E*TRADE from Morgan Stanley Client Agreement for Self-Directed Accounts, and the Important Account Information for Self-Directed Accounts, available below, will govern your futures account(s) after the transfer.

Select UMA Program Account Agreements

Effective on your transfer date, E*TRADE Capital Management, LLC (ETCM) will assign all of its rights, titles, and interest in your Advisory Agreement for ETCM to Morgan Stanley—and Morgan Stanley will amend it pursuant to its terms. The Morgan Stanley Single Advisory Contact, the Morgan Stanley Client Agreement, and Morgan Stanley’s Important Account Information Booklet for Full-Service Accounts, available below, describe the terms and conditions that will apply to your Morgan Stanley account(s) after the transfer.

Core Portfolios Account Agreements

Effective on your transfer date, ETCM will assign all of its rights, titles, and interest in your ETCM Advisory Agreement to Morgan Stanley—and Morgan Stanley will amend it pursuant to its terms. The Morgan Stanley Core Portfolios Investment Advisory Agreement, E*TRADE from Morgan Stanley Client Agreement for Self-Directed Accounts, and Important Account Information for Self-Directed Accounts, available below, describe the terms and conditions that will apply to your Morgan Stanley account(s) after the transfer.

Stock Plan Account Agreements

Effective on your transfer date, E*TRADE will assign the E*TRADE Stock Plan Account Agreement to Morgan Stanley. The Stock Plan Account Agreements, E*TRADE from Morgan Stanley Client Agreement for Self-Directed Accounts, and Important Account Information for Self-Directed Accounts, available below, describe the terms and conditions that will apply to your Morgan Stanley stock plan account(s) after the transfer.

Note: If you’re a Morgan Stanley at Work participant and have a linked E*TRADE brokerage account, your Morgan Stanley at Work stock plan experience will not change even though your brokerage account will transfer to Morgan Stanley.

Privacy Policy

In connection with the transfer, your nonpublic personal information will be provided to Morgan Stanley and become subject to the U.S. Privacy Policy and Notice. Morgan Stanley will continue to comply with Regulation S-P under the Securities Exchange Act of 1934, which generally addresses the administrative, technical, and physical safeguards for the protection of customer records and information. View new policy

Bank Deposit Program Disclosure Statement

As a result of the transfer, all eligible sweep option balances will be transferred to a Morgan Stanley bank sweep program called the Bank Deposit Program. You can review the terms and conditions for this program in the Bank Deposit Program Disclosure Statement.